Call Jordan-Appraisal to discuss appraisals for Champaign foreclosures

Jordan-Appraisal is experienced when it comes to foreclosures in Champaign, Illinois

Houses that have gone back to the bank's holding and properties in foreclosure create particular appraisal problems.

When there is a house in foreclosure, you should differentiate market value versus a "quick disposition" assessment to analyze your possible charge-off liability. Jordan-Appraisal has the knowledge in both providing snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your time line.

Jordan-Appraisal has the qualifications to deal with the specific dynamics of a foreclosure appraisal. For a company you can rely on, contact Jordan-Appraisal.

Owners of properties in foreclosure can present unique challenges. For example, they could be combative when it comes to allowing the appraiser access to the property. If they moved out of the house already, they could have overlooked the care of the home for quite awhile - or even worse, caused damage to the property.

For real estate that has returned to REO, you typically will want to get rid of it quickly. Regardless, you'll still want to consider three angles for determining the value of the asset:

  • As Repaired. Value with the work needed to make the house marketable at full market value - appropriate with other homes in the neighborhood
  • As-is. The market value of the home without any work done to it
  • Quick sale. Somewhere in between, with minimal investment in repairs - to get rid of the home quickly, possibly to someone inclined to finish the job themselves
Again, we understand your time line and the special situation of a Real Estate Owned home, as well as the special information you'll need - competing listings, neighborhood trends, and the like. You can rely on Jordan-Appraisal to take on the task of your bank owned property with expertise and professionalism. Contact us today.